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The Financial Express

Search results for: Trade

Balancing forex earning, spending: Bankers' summit to set rules of trade

Balancing forex earning, spending: Bankers' summit to set rules of trade

SIDDIQUE ISLAM 2022-05-26 08:24:58

A bankers' summit meet is going to set rules on how to manage the ongoing volatility on Bangladesh's foreign-exchange market, in the cusp of a global financial crunch. Officials say the central ban...

Square Pharma says factory fire will wipe Tk 80m off profits

Square Pharma says factory fire will wipe Tk 80m off profits

-- 2022-05-25 21:15:34

Square Pharmaceuticals has said the fire at its factory in Gazipur’s Kaliakoir will burn through the company’s revenues by Tk 500 million and profits by Tk 80 million.The fire that devasta...

iDEA signs MoU with NSU to create startup ecosystem

iDEA signs MoU with NSU to create startup ecosystem

FE ONLINE REPORT 2022-05-25 19:22:52

The Innovation Design and Entrepreneurship Academy (iDEA) Project of Bangladesh Computer Council (BCC) under the ICT Division and the North South University (NSU) will work together to create a sustai...

Bangladesh set to import 1.0m tonnes of wheat from India 

Bangladesh set to import 1.0m tonnes of wheat from India 

-- 2022-05-25 17:23:44

Bangladesh has a plan to import up to 1.0 million tonnes of wheat from India under government to government contract and necessary steps already have been taken by the concerned food ministry. ...

Russian oil's Achilles' heel: insurance 

Russian oil's Achilles' heel: insurance 

-- 2022-05-25 16:41:16

Russia has so far deflected much of the impact of sanctions on its oil trade but the insurance industry threatens to throw a spanner in the works unless Moscow and its customers can plug a gap left by...

India's SpiceJet airline says its systems face ‘attempted ransomware attack’

India's SpiceJet airline says its systems face ‘attempted ransomware attack’

-- 2022-05-25 16:23:43

India's SpiceJet airline said its systems faced an "attempted ransomware attack" on Tuesday, delaying flights and leaving many stranded at airports. Several flights were delayed on Wednesday, with pa...

Plan to meet 40pc edible oil demand locally

Plan to meet 40pc edible oil demand locally

YASIR WARDAD 2022-05-25 08:42:15

The government has prepared a draft roadmap to raise local edible oil production by nearly 200 per cent within the fiscal year (FY) 2024-25, which could meet minimum 40 per cent of the country's total...

Food directorate struggles to collect wheat as price increases in open market

Food directorate struggles to collect wheat as price increases in open market

-- 2022-05-24 20:11:33

Officials from the Directorate General of Food are struggling to collect wheat at the government-fixed Tk 28 per kg price to stock for rationing this year as farmers are selling wheat in the open mark...

Rouble 2.5pc stronger against dollar, 3.0pc against euro

Rouble 2.5pc stronger against dollar, 3.0pc against euro

-- 2022-05-24 19:22:53

The Russian rouble strengthened to levels not seen since March 2018 against the dollar on Tuesday, boosted by export-focused companies selling foreign currency to pay taxes and shrugging off a slight...

No data to support changing 737 MAX 10 cockpit alerting, Boeing executive says

No data to support changing 737 MAX 10 cockpit alerting, Boeing executive says

-- 2022-05-24 19:08:33

A Boeing Co  executive said there was no need to revamp the cockpit crew alerting system in its forthcoming 737 MAX 10 jet, as the US planemaker races to complete its certification before a year-...

DCCI delegation off to Kolkata to explore more trade opportunities

DCCI delegation off to Kolkata to explore more trade opportunities

FE ONLINE REPORT 2022-05-24 18:48:54

A 49-member business delegation from Dhaka Chamber of Commerce & Industry (DCCI), led by its President Rizwan Rahman, leaves for Kolkata on Tuesday to explore new windows of opportunities and to e...

India may restrict sugar exports for first time in six years

India may restrict sugar exports for first time in six years

-- 2022-05-24 16:33:51

India plans to restrict sugar exports for the first time in six years to prevent a surge in domestic prices, potentially capping this season's exports at 10 million tonnes, a government source said....

Airbnb to quit China as lockdowns restrict tourism

Airbnb to quit China as lockdowns restrict tourism

-- 2022-05-24 13:25:15

Airbnb is shutting down its domestic rentals in China, where a "zero-Covid" policy has meant lockdowns are ongoing. All listings for homes and experiences in the country will be removed f...

Toyota to cut global production plan by 100,000 in June

Toyota to cut global production plan by 100,000 in June

-- 2022-05-24 11:49:22

Toyota Motor Corp will cut its global production plan by about 100,000 to roughly 850,000 vehicles in June due to the semiconductor shortage, it said on Tuesday. The company did not change its e...

RMG packaging manufacturers oppose power price hike bid

RMG packaging manufacturers oppose power price hike bid

FE REPORT 2022-05-24 10:33:45

The country's garments accessories and packaging manufacturers have strongly protested the proposal of power price hike, saying that it will badly affect them, as they are already struggling due to ma...

Wheat crisis: Dhaka drives for import through private channel

Wheat crisis: Dhaka drives for import through private channel

FE REPORT 2022-05-24 08:49:38

With wheat prices going sky-high following the Indian export ban, Dhaka has pushed New Delhi to let the private sector import the grain alongside the government-to-government (G2G) arrangement. Last...

Govt to develop metro rail in Chattogram

Govt to develop metro rail in Chattogram

MIR MOSTAFIZUR RAHAMAN 2022-05-24 08:47:17

The government has taken an initiative to construct metro rail in the Chittagong metropolitan area to improve the traffic system in the port city. Negotiations are on to start the feasibility study...

Russia offers Dhaka crude oil

Russia offers Dhaka crude oil

FE REPORT 2022-05-24 08:40:21

Russia offers to export crude oil to Bangladesh, at a time of global energy shortages following western sanctions and Russian blockade over Ukraine issue. State Minister for Power, Energy and Mineral...

200 products being listed for regulatory duty hike

200 products being listed for regulatory duty hike

DOULOT AKTER MALA 2022-05-24 08:37:24

Bangladesh ramps up belt-tightening measures to save its foreign-exchange reserves with two more fiscal interventions like increase in regulatory duty on over 200 import items and relaxing remittance...

CAB demands separate ‘Consumers’ Right Division’ within MoC 

CAB demands separate ‘Consumers’ Right Division’ within MoC 

FE ONLINE REPORT 2022-05-23 20:04:14

The Consumer Association of Bangladesh (CAB) on Monday, demanded a ‘separate division’ within the commerce ministry (MoC) to protect consumers’ rights accordingly. CAB also claimed...

Starbucks leaving Russia after nearly 15 years

Starbucks leaving Russia after nearly 15 years

-- 2022-05-23 20:03:03

Starbucks Corp said on Monday it will exit the Russian market after nearly 15 years as the coffee chain joins McDonald's Corp in marking the end of the presence of some of the top Western brands in th...

17 banks get BB appreciation letter

17 banks get BB appreciation letter

-- 2022-05-23 19:49:02

Seventeen banks have received appreciation letter from Bangladesh Bank (BB) Governor Fazle Kabir for achieving the target of disbursing loan for special refinance scheme under Covid-19 stimulus packag...

Rouble gains 4.0pc against dollar and euro

Rouble gains 4.0pc against dollar and euro

-- 2022-05-23 17:52:39

The Russian rouble firmed around 4.0 per cent against the dollar and euro on Monday, heading back towards multi-year highs hit last week, supported by capital controls and an upcoming month-end tax pe...

BSTI to set up 89 new modern labs

BSTI to set up 89 new modern labs

FE REPORT 2022-05-23 10:45:46

The authority of Bangladesh Standards and Testing Institution (BSTI) will set up 89 new state-of-the-art labs aiming to ensure international standard of local products for gearing up export. "The BST...

First Dhaka Elevated Expressway: HSIA-Tejgaon phase sees 80.66pc progress

First Dhaka Elevated Expressway: HSIA-Tejgaon phase sees 80.66pc progress

MUNIMA SULTANA 2022-05-23 08:53:16

Challenges still exist in completing construction of the First Dhaka Elevated Expressway (FDEE) from Hazrat Shahjalal International Airport (HSIA) to Shonir Akhra of the Dhaka-Chattogram Highway by...

Chevron gives bid to Petrobangla

Chevron gives bid to Petrobangla

M AZIZUR RAHMAN 2022-05-23 08:49:59

The US-based oil and gas giant Chevron plans to develop further two onshore gas-fields and one onshore block in Bangladesh in a quest to discover new gas zones and supply gas from those to help mitiga...

Govt to lower fertiliser usage target for FY23

Govt to lower fertiliser usage target for FY23

YASIR WARDAD 2022-05-23 08:36:05

The government is set to cut fertiliser usage for the upcoming financial year (FY23) following its skyrocketing prices in the global market. The Department of Agriculture Extension (DAE) under the Mi...

Bangladesh Bank imposes restrictions on bank officials’ foreign visits

Bangladesh Bank imposes restrictions on bank officials’ foreign visits

FE ONLINE REPORT 2022-05-22 20:59:59

Bangladesh Bank has asked officials of banks to refrain from making foreign trips to attend training programmes, workshops and seminars. It also directed bank officials to avoid foreign travel for pe...

BB shows appreciation to AB Bank for exceeding disbursement target of working capital

BB shows appreciation to AB Bank for exceeding disbursement target of working capital

FE ONLINE DESK   2022-05-22 18:29:59

Bangladesh Bank has shown appreciation to AB Bank for exceeding the disbursement target of working capital in the agriculture sector refinance scheme of Tk 50 billion under the stimulus package, annou...

Hyundai Motor Group to invest more than $10 billion in US up to 2025

Hyundai Motor Group to invest more than $10 billion in US up to 2025

-- 2022-05-22 13:01:19

Hyundai Motor Group said on Sunday it would invest an additional $5 billion in the United States by 2025 to strengthen collaboration with US firms in advanced technology. The investments, announced d...